Tinubu Launches Renewed Hope City Project with 3,112 Housing Units in Abuja, Vows to Tackle Nigeria’s Housing Deficit
President Bola Tinubu has officially commenced the construction of 3,112 housing units in Karsana, Abuja, as part of his administration’s commitment to providing affordable and decent housing for Nigerians. This project is part of a larger initiative to deliver 20,000 housing units in the Federal Capital Territory through a Public Private Partnership arrangement led by the Federal Ministry of Housing and Urban Development. President Tinubu emphasized that this endeavor represents a significant step towards implementing a New City Development Plan under his Renewed Hope Agenda.
The President outlined his vision to create integrated living communities that will revolutionize residential living across Nigeria, focusing on building dynamic, integrated, and self-sustaining communities with essential amenities. These include well-connected access and internal roads, reliable electricity supply, healthcare facilities offering accessible and quality medical services, and educational institutions providing conducive learning environments.
President Tinubu directed the Ministers of the Federal Capital Territory and Works to ensure the provision of access roads to all Renewed Hope Cities and Estates projects, starting with the Karsana site. He stressed the government’s commitment to ensuring that every Nigerian has access to affordable and adequate shelter.
Highlighting the economic significance of housing, President Tinubu emphasized its role as a catalyst for inclusive economic growth. He stated that the 20,000 housing units planned for the Federal Capital Territory alone would create 500,000 direct and indirect jobs, underscoring the administration’s focus on job creation.
In addressing Nigeria’s housing deficit, President Tinubu emphasized the importance of Public Private Partnerships to attract domestic, foreign, and diaspora investments. He also highlighted the government’s efforts to enhance governance and risk management frameworks to ensure stability, transparency, and integrity in the housing sector.
President Tinubu expressed his determination to overcome barriers and achieve success in addressing the housing challenge. He highlighted his decision to separate the Federal Ministry of Housing and Urban Development from Works to focus on housing issues and his appointment of experienced professionals to lead the Ministry.
The President commended the Federal Ministry of Housing and Urban Development for awarding contracts for the construction of 200 housing units in twelve states, with completion scheduled before the end of 2024. He also lauded the development of Renewed Hope Cities in Kano, Lagos, and Abuja, along with plans for a National Urban and Slum Upgrading Programme covering 26 sites nationwide.
In the coming weeks, President Tinubu will perform the groundbreaking of a similar project to deliver 2,500 housing units at the Ibeju–Lekki coastal city, Lagos. He highlighted the project’s commitment to cross-subsidization, where 400 housing units funded by the Federal Mortgage Bank of Nigeria will be sold at concessionary rates to low and medium-income Nigerians who are members of the Nigeria Labour Congress and the Trade Union Congress.
PM News
